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mrbillmc
New Member

Do the covid stimulus checks that were sent in April and Dec of 2020 apply for the Disaster Tax Relief distribution question in part V, bottom of page 3?

With this checked TT indicates i need to wait to file due to new laws by Congress.  Thank you civil representatives... 😕  Wondering if I really need this or not!
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Accepted Solutions

Do the covid stimulus checks that were sent in April and Dec of 2020 apply for the Disaster Tax Relief distribution question in part V, bottom of page 3?

No.  Those stimulus payments in 2020, EIP1 and EIP2, were not a Disaster Relief Distribution.

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3 Replies

Do the covid stimulus checks that were sent in April and Dec of 2020 apply for the Disaster Tax Relief distribution question in part V, bottom of page 3?

No.  Those stimulus payments in 2020, EIP1 and EIP2, were not a Disaster Relief Distribution.

MaryK4
Expert Alumni

Do the covid stimulus checks that were sent in April and Dec of 2020 apply for the Disaster Tax Relief distribution question in part V, bottom of page 3?

No, this is not the stimulus checks- this would be for a distribution you received from a retirement account.  If this was not you, you do not have to wait to file!

 

For the CARES  Act, there were special rules to help Americans. 

 

The distributions generally are included in income ratably over a three-year period, starting with the year in which you receive your distribution. For example, if you receive a $9,000 coronavirus-related distribution in 2020, you would report $3,000 in income on your federal income tax return for each of 2020, 2021, and 2022.  You also do not have to pay the early withdrawal penalty.

 

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mrbillmc
New Member

Do the covid stimulus checks that were sent in April and Dec of 2020 apply for the Disaster Tax Relief distribution question in part V, bottom of page 3?

I had my suspicions... Thank you for the confirmation. 

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